ALTANA Chemie Acquires Electrical Insulation Business of Ranbar

08-Jan-2004

Altana Chemie AG has acquired through its US subsidiary P.D. George the electrical insulation business of Ranbar Electrical Materials Inc., USA. The acquired activities comprise the entire business of impregnating resins, varnishes and potting compounds for the secondary insulation of electrical equipment and will be integrated into the business unit ALTANA Electrical Insulation. ALTANA Chemie has acquired all intellectual property of the business, including customer base, patents and technologies as well as other know-how. Staff and production sites are not part of the transaction. The sales volume of this business unit of Ranbar was around $11m in 2002. Other financial details of the acquisition have not been disclosed.

Strategically this acquisition enables ALTANA Chemie to strengthen its activities and product portfolio in the area of impregnating resins in the US. "The acquisition allows us to reach additional key customers in America and is part of our consistent strategy to focus on highly profitable specialty chemicals," said Dr. Matthias L. Wolfgruber, Member of the Management Board of ALTANA AG and CEO of ALTANA Chemie AG. This addition will improve the company's market position in the US and it will also increase the capacity utilization of the US subsidiary P.D. George.

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